After the elections last week there was such a mess on the charts that there was a lack of occasions to make transaction about which we could write. The situation is slowly changing and there is a chance for first positions:

GBP/AUD:

A pair Pound to Australian Dollar has come to resistance and rebounded from him creating a setup Inside Bar. The trend is downward and I would rather favour opening shorts , but there are more possibilities of playing this setup :

1. Breaking down, and closing the candle below the mother candle (the range is highlighted in green on the chart). Then you can open Short with a stop loss above the signal-candle.

2. Breaking up and closing the candle above the mother. It will be a signal to enter long and I’ll be in a long position with a stop loss below the signal-candle.

3. Breaking up, pulling back to the range of the mother bar and opening a short position at the market price, the stop loss above the signal-candle.

If you are interested in Price Action Strategy description, you can read it here.

GBP/CHF:

The same situation is on hand on Pound to Swiss franc. Also, three possibilities of playing and the signal should appear in the coming sessions.

USD/JPY:

Dollar to yen broke out far more than the resistance and now we should look for opportunities to enter into long. If you see a downward correction, which will test from the top the support (the earlier resistance) we can open long positions from 4-hour chart after the appearance of the Price Action signal to buy.

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